Y P ASSOCIATES Vs. PAWAR TEXTILES PVT LIMITED

JUDGEMENT

(1.) The facts giving rise to this application for amendment of the cause title of the winding up petition in brief are as under.

(2.) M/s Y.P. Associates, through its sole proprietor, Mr. Y.P.Garg, filed a petition under Section 433 read with Section 439 of the Companies Act, 1956 for winding up the respondent company, M/sPawar Textiles (Pvt) Ltd being Company Petition No. 189 of 1986. In the said company petition,the respondent company, M/s Pawar Textiles (Pvt) Ltd, filed an application under Order 30, Rule 10 and Section 151 Civil Procedure Code and Rule 9 of Company Court Rules being C.A. No. 409 of 1992 for dismissing/rejecting the winding up petition and one of the grounds taken was that Y.P. Associates, who has filed this winding up petition has been shown as a firm, as a sole proprietorship, and the petition in this form is not maintainable. Sabharwal, J, the then Company Judge, vide his Order dated 12.10.1992 dismissed that application filed by the respondent herein by observing that 'Thus, practically this is a petition by the petitioner, Sh. Y.P.Garg. Furthermore, as noticed above, the objection has now been taken at this belated stage after expiry of five years and it cannot be said that the objection goes to the root of the matter."

(3.) Aggrieved by the said Order, an appeal was filed before the Division Bench by the respondent herein, and the Division Bench vide its Order dated 17.3.1993 disposed of that appeal in view of the agreement between the counsel for the parties permitting the petitioner herein to correct the description of the petitioner ,as may be permitted by the Company Judge keeping in view the stand taken by the appellant before them. in that order it has been recorded that the counsel for the appellant/respondent herein stated that "he has no objection if the amendment application for correcting the description of the petitioner is filed and the same is allowed by the Company Judge and he further states that he will also not raise any question of limitation and costs."